Featured Product

    Bundesbank Consults on Minimum Criteria for Resolvability Assessment

    September 01, 2020

    Bundesbank is consulting on a draft circular on “minimum requirements for information systems" for the provision of information for assessments in the context of a resolution. The draft circular represents the expectations of BaFin with regard to the “target image” that must be achieved by the concerned institutions to be considered resolvable. The "target image" is with regard to the provision of suitable systems and processes as well as the provision of information and data for the purpose of assessment. This "target image" ensures uniform, comparable, and transparent administrative practice for resolution planning. BaFin is requesting comments until October 02, 2020.

    As part of resolution planning, the resolution authority must examine the resolvability of institutions and groups (assessment of resolvability) and, if necessary, dismantle or remove obstacles to resolution. This includes checking whether a selected resolution strategy is feasible and whether there are potential obstacles to resolution (Article 23 (1) (c) in conjunction with Articles 26 to 31 of the EU Delegated Regulation 2016/1075). Among other things, it must be checked whether the management information systems are able to provide the information essential for the effective processing of the institution at any time—even under rapidly changing conditions (Article 29 (1) of the EU Delegated Regulation 2016/1075 in conjunction with number 9 of Section C of the Annex to the Bank Recovery and Resolution Directive, or BRRD). In the context of this circular, this means whether the institution is able to provide required information for the necessary assessments in the context of a resolution.

     

    Related Links (in German)

    Comment Due Date: October 02, 2020

    Keywords:Europe, Germany, Banking, Resolution Planning, Resolution Framework, BRRD, Resolvability Assessment, Bundesbank

    Related Articles
    News

    US Agencies Issue Several Regulatory and Reporting Updates

    The Board of Governors of the Federal Reserve System (FED) adopted the final rule on Adjustable Interest Rate (LIBOR) Act.

    January 04, 2023 WebPage Regulatory News
    News

    ECB Issues Multiple Reports and Regulatory Updates for Banks

    The European Central Bank (ECB) published an updated list of supervised entities, a report on the supervision of less significant institutions (LSIs), a statement on macro-prudential policy.

    January 01, 2023 WebPage Regulatory News
    News

    HKMA Keeps List of D-SIBs Unchanged, Makes Other Announcements

    The Hong Kong Monetary Authority (HKMA) published a circular on the prudential treatment of crypto-asset exposures, an update on the status of transition to new interest rate benchmarks.

    December 30, 2022 WebPage Regulatory News
    News

    EU Issues FAQs on Taxonomy Regulation, Rules Under CRD, FICOD and SFDR

    The European Commission (EC) adopted the standards addressing supervisory reporting of risk concentrations and intra-group transactions, benchmarking of internal approaches, and authorization of credit institutions.

    December 29, 2022 WebPage Regulatory News
    News

    CBIRC Revises Measures on Corporate Governance Supervision

    The China Banking and Insurance Regulatory Commission (CBIRC) issued rules to manage the risk of off-balance sheet business of commercial banks and rules on corporate governance of financial institutions.

    December 29, 2022 WebPage Regulatory News
    News

    HKMA Publications Address Sustainability Issues in Financial Sector

    The Hong Kong Monetary Authority (HKMA) made announcements to address sustainability issues in the financial sector.

    December 23, 2022 WebPage Regulatory News
    News

    EBA Updates Address Basel and NPL Requirements for Banks

    The European Banking Authority (EBA) published regulatory standards on identification of a group of connected clients (GCC) as well as updated the lists of identified financial conglomerates.

    December 22, 2022 WebPage Regulatory News
    News

    ESMA Publishes 2022 ESEF XBRL Taxonomy and Conformance Suite

    The General Board of the European Systemic Risk Board (ESRB), at its December meeting, issued an updated risk assessment via the quarterly risk dashboard and held discussions on key policy priorities to address the systemic risks in the European Union.

    December 22, 2022 WebPage Regulatory News
    News

    FCA Sets up ESG Committee, Imposes Penalties, and Issues Other Updates

    The Financial Conduct Authority (FCA) is seeking comments, until December 21, 2022, on the draft guidance for firms to support existing mortgage borrowers.

    December 20, 2022 WebPage Regulatory News
    News

    FSB Reports Assess NBFI Sector and Progress on LIBOR Transition

    The Financial Stability Board (FSB) published a report that assesses progress on the transition from the Interbank Offered Rates, or IBORs, to overnight risk-free rates as well as a report that assesses global trends in the non-bank financial intermediation (NBFI) sector.

    December 20, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8697